UNIVERSITY BANK, NATIONAL ASSOCIATION Failed 1991
What happened
UNIVERSITY BANK, NATIONAL ASSOCIATION of NEWTON, MA was closed on 1991-05-31. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to STERLING BANK (WALTHAM, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3114
- FDIC Certificate
- 10544
- FDIC FIN
- 4362
- Bank name
- UNIVERSITY BANK, NATIONAL ASSOCIATION
- Location
- NEWTON, MA
- Failure date
- 1991-05-31
- FDIC resolution date
- 1991-05-31
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $104M
- Deposits at failure
- $296M
- Assets at failure
- $319M
- Acquiring bank
- STERLING BANK (WALTHAM, MA)
Other banks STERLING BANK acquired in FDIC resolutions